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Terms & Conditions
TERMS & CONDITIONS.
The Terms and Conditions of Sale are set forth upon this page in this Buyer’s Prospectus and the Earnest Money Receipt and Purchase Agreement. The information set forth is believed to be accurate. However, the owner of the properties and Steffes Group make no warranties or
All ANNOUNCEMENTS ON AUCTION DAY TAKE PRECEDENCE OVER PREVIOUSLY ADVERTISED INFORMATION.
Prospective buyers are advised to consult with an attorney of their choice with respect to the purchase of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.
TERMS & CONDITIONS
Auction staff will be at the sale site approximately one hour prior to sale time.
The successful bidder will be required to sign an Earnest Money Receipt and Purchase Agreement at the close of the real estate auction.
A total deposit of 10% of the Purchase price will be required. Those funds will be placed in the Steffes Group Auction Trust Account as good faith money until closing.
Purchasers who are unable to close because of insufficient funds will be in default and the deposit money will be forfeited.
Seller will provide up-to date abstract at their expense and will convey property by Warranty Deed.
2017 taxes to be prorated to day of closing. Subsequent taxes and or special assessments, if any, to be paid by buyer. Real Estate Taxes are subject to reassessment under
Closing Agent Fee will be shared equally between Buyer and Seller.
Please note the bidding will not close and property will not be sold until everyone has had the opportunity to make his or her highest and best bid.
The auction sale is for registered bidders and their guests. All bidding is open to the public and the property is offered for sale to qualified purchasers without regard to sex, race, color, religion, natural origin, or handicap.
THIS IS A 5% BUYER’S PREMIUM AUCTION. FIVE PERCENT WILL BE ADDED TO THE FINAL BID TO ARRIVE AT THE CONTRACT SALE PRICE.
THE PROPERTY WILL BE SOLD AS IS WITH NO WARRANTIES EXPRESSED OR IMPLIED.
THE PROPERTY WILL BE SOLD SUBJECT TO OWNER CONFIRMATION.
PROPERTY SOLD WITHOUT WARRANTY
All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and review all the pertinent documents and information available, as each bidder is responsible for
The successful bidder of the property shall be determined by competitive bidding. Should any dispute arise between bidders, the auctioneer shall have the right to make the final decision to either determine the successful bidder or to re-offer the property that is in dispute. The auction will be recorded and the auctioneer’s records shall be conclusive in all respects.
The successful bidder will be required, at the close of the auction, to complete the Earnest Money Receipt and Purchase Agreement. A sample contract is included in this Prospectus.
The Seller has agreed to the terms of the sale as published. However, the Broker and Auctioneer make no warranties or
Steffes Group, Inc. is representing the Seller.
Possession will be at closing unless otherwise agreed to in writing and agreeable by buyer and seller.
All mineral rights, if any, held by Seller will be transferred upon closing. However, the Seller does not warrant the amount or adequacy of the mineral rights.
EASEMENTS AND SURVEY
The property to be sold is subject to any restrictive covenants or easements of record and any results that an accurate survey may show.
As a buyer you have two objectives to accomplish:
- Purchasing the property.
- Purchasing the property at a price you can afford.
How is this accomplished?
- Estimate comparative value
- Experienced buyers always decide what to pay before the bidding begins.
- Inspect the property carefully.
- Compare with other properties available in the area.
- Check the selling price of previously sold properties.
- Discuss your buying plans with a lender. Have your financing arrangements made in advance.
- This sale is not subject to financing.
AVOID OVER OR UNDER BIDDING
Always bid on a property toward a price.
Establish that price before the bidding begins. By doing this you will avoid getting caught up in the auction excitement and pay a price that is too high for the market or one that you cannot afford. It will also make you confident to bid to your established fair market value. Many bidders who do not plan ahead end up with regrets after the auction because they were too nervous or uncertain about their judgment to bid.
THE BIDDING STRATEGY
Research and know the value of the property.
Have your financing arranged before the auction.
Establish your highest and best bid before the bidding begins.
Make your bids promptly to force other bidders up or out without delay.